Dear Sir,
Applicant has approached for working capital requirements in the form of overdraft. on scrutiny of latest ITR, Audited financials, Tax audit report certified by CA with UDIN and GST Turnover for the same year there is a variation in sales Turnover and GST Turnover. The sales Turnover reported as Rs 203 lakh and GST Turnover reported as Rs 264 lakh. After being asked clarification for variation, applicant has submitted modified Audited financials as per which sales Turnover reported as Rs 264 lakh
Query: 1.Whether Audited financials can be modified?
2. If modified same shall be reported to income tax by filing revised return?
3.Why intially sales reported less later tallied with GST Turnover
CAclubindia
